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Nov 28, 2012
11/12
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mortgage debt eligible for a deduction from a million dollars to $500,000 say it could help reduce the deficit and keep interest rates low and, scott, that could help the housing market all by itself. >> pelley: dean, thank you. just ahead, researchers have discovered a piece of world war ii history off the coast of florida. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid contact with application sites. discontinue androgel and call your doctor if you see unexpected signs of early puberty in a child, or, signs in a woman which may include changes in body hair or a large increase in acne, possibly due to accidental exposure. men with breast cancer or who have or might have prostate cancer, and women who are, o
mortgage debt eligible for a deduction from a million dollars to $500,000 say it could help reduce the deficit and keep interest rates low and, scott, that could help the housing market all by itself. >> pelley: dean, thank you. just ahead, researchers have discovered a piece of world war ii history off the coast of florida. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement...
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Nov 27, 2012
11/12
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FOXNEWSW
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he wanted to cut the deficit by $500 billion. the republicans went to him with clash 490 billion -- $490 billion in spending cuts. the democrats said we can match your 500 billion, but you have to raise taxes. and george h.w. bush raised taxes, the two came in, never got the spending cuts at all, and they hung that around his neck in 1992, and it cost him the election. megyn: how did it happen that your dad agreed to the tax hikes but didn't get the spending cuts? >> yeah. well, how that works out is the fact that the tax hikes went into place first, and the spending cuts just never showed up. at all. remember, the united states early on controlled by republicans and bob dole, the house of representatives by the democrats. democrats had to put those things toward, so they made the promise, and they didn't follow through with the promise as with h.w. bush in 1990. so as i warned the other day in a tweet, if republicans do not getting the spending cuts before the revenue, they may end up on the ash heap of history. megyn: there was
he wanted to cut the deficit by $500 billion. the republicans went to him with clash 490 billion -- $490 billion in spending cuts. the democrats said we can match your 500 billion, but you have to raise taxes. and george h.w. bush raised taxes, the two came in, never got the spending cuts at all, and they hung that around his neck in 1992, and it cost him the election. megyn: how did it happen that your dad agreed to the tax hikes but didn't get the spending cuts? >> yeah. well, how that...
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Nov 28, 2012
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with the president today were on top of the game, top of the issues understood the solution to the deficit plan. >> what grows jobs in america are consumers spending money. and the average person needs that $2,000 in his pocket to drive the economy. saying that tax breaks for the rich drive consumers lower down to spend is like saying you could start your car by pouring gasoline on the hood. there's no proof, there's no factual data to support it. it's completely a sham to say that. >> and he's a business owner. we need more members of congress to sound like that. if the president is trying to achieve solidarity on raising the top tax rate, these are the voices that can come through for them with that message in a big way. an owner of an automobile supply company says she supports the plan even if it means her own personal rates will go up. . >> i would have higher tax rates, but r more important and more crucial, the middle class would be spending about $3,000 more. >> harry reid kept the focus on the president's winning campaign message of letting the tax cuts expire on incomes over $250
with the president today were on top of the game, top of the issues understood the solution to the deficit plan. >> what grows jobs in america are consumers spending money. and the average person needs that $2,000 in his pocket to drive the economy. saying that tax breaks for the rich drive consumers lower down to spend is like saying you could start your car by pouring gasoline on the hood. there's no proof, there's no factual data to support it. it's completely a sham to say that....
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Nov 28, 2012
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martha: reid says any agreement must have the wealthy to pay a little bit more to reduce the deficit. bill: what happens if they don't see a deal? 90% of americans will see a tax hike in 2013. and families that make between $40,000 and $65,000 will have to pay an extra $2,000 to washington, d.c. in taxes. martha: concerns over america's fiscal cliff have sent the markets lower in premarket trading. there is a look at where the dow is poised to open this morning. with the dow, the s & p and the nasdaq all trading lower. speaking of that, a new round of violent protests break out in egypt as police fired teargas into the crowds. here are some of those scenes. >> unbelievable. more than 100,000 people flooded into downtown cairo. this time they are protesting the current president martha maccallum and his power grab. they are disillusioned with what he has brought to their country. then you have this happening. police firing teargas. gypt's highest courts refusing to work in protest of morsi's actions. steve harrigan is streaming live from cairo. the protests looked like the unrest we sa
martha: reid says any agreement must have the wealthy to pay a little bit more to reduce the deficit. bill: what happens if they don't see a deal? 90% of americans will see a tax hike in 2013. and families that make between $40,000 and $65,000 will have to pay an extra $2,000 to washington, d.c. in taxes. martha: concerns over america's fiscal cliff have sent the markets lower in premarket trading. there is a look at where the dow is poised to open this morning. with the dow, the s & p and...
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Nov 21, 2012
11/12
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is there enough revenue from waste, fraud and abuse and m medicare to get the type of serious deficit reform needed to bring down the $16 trillion debt? >> well, you know, i think anytime you're talking about a deficit, there's two ways to bring it down, and i know you know this well. you're either going to raise revenue or have cuts, and i would continue to argue for a balanced approach which means i do think you can find savings in both programs. but what i'm concerned about is what the real agenda is and the real agenda, in my opinion, is to end medicare. i mean, that was certainly a big item in the presidential debate is changing medicare into a voucher program. so what i don't believe in is changing the fundamental structure where we break the guarantee to seniors that we've had in our country for decades. that i disagree with. finding savings, there are certainly ways to do that in both programs, but neither one is going to balance or is going to address the deficit without clearly raising revenue. >> an interesting thing has developed among some of your fellow members in the ho
is there enough revenue from waste, fraud and abuse and m medicare to get the type of serious deficit reform needed to bring down the $16 trillion debt? >> well, you know, i think anytime you're talking about a deficit, there's two ways to bring it down, and i know you know this well. you're either going to raise revenue or have cuts, and i would continue to argue for a balanced approach which means i do think you can find savings in both programs. but what i'm concerned about is what the...
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Nov 29, 2012
11/12
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duke comes back from a double digit deficit to win this one. that's the third win already this season over a top five team. very impressive. >>> now to college football. lsu's les miles ended speculation he would become the next head coach at arkansas. by agreeing to a seven-year contract that will keep him in baton rouge through 2019. that's leverage move there, les. "the washington post" reports that the new deal will pay miles in the range of $3.4 million a year, that is an increase. miles' extension from lsu still falls short of the five-year 27 had the $5 million deal offered by the razorbacks. his agreement with the tigers still makes him the fourth highest paid coach in college football only behind this list. nick saban, mack brown and bob stoops. miles, by the way, has a record 85 wins and 20 losses in eight seasons with lsu. >>> coming up at the top of the hour on "morning joe," no, they're not letting me do that, today mitt romney lunches at the white house as he and president obama sit down for the first time after the election. we'l
duke comes back from a double digit deficit to win this one. that's the third win already this season over a top five team. very impressive. >>> now to college football. lsu's les miles ended speculation he would become the next head coach at arkansas. by agreeing to a seven-year contract that will keep him in baton rouge through 2019. that's leverage move there, les. "the washington post" reports that the new deal will pay miles in the range of $3.4 million a year, that is...
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Nov 28, 2012
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we have a $1.2 billion deficit. one of the things i'm hearing from my republican sources over the last few days is they say the president isn't talking about spending cuts. wasn't it interesting in his remarks today i don't think the president mentioned cutting spending one time. so the republicans are saying wait a minute all the president wants to do is raise these taxes on small businesses and i vesters and quote rich people. on the other hand he's not putting on the table any reductions in spending or entitlements. and i think we all know, whether you're a democrat, republican, independent we have to start chopping these programs and reforming them or we will surrender to an ocean of debt. jenna: when does that moment of reckoning come? is it here now? that's the big question? >> i don't think it's here now. i think the window is khroeusing and i think there is a lot of frustration that we can't seem to come to an agreement. just one example, jenna, the president in the negotiations has said well social security
we have a $1.2 billion deficit. one of the things i'm hearing from my republican sources over the last few days is they say the president isn't talking about spending cuts. wasn't it interesting in his remarks today i don't think the president mentioned cutting spending one time. so the republicans are saying wait a minute all the president wants to do is raise these taxes on small businesses and i vesters and quote rich people. on the other hand he's not putting on the table any reductions in...
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Nov 28, 2012
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that's about 40% of the $4 trillion deficit goal that we have. that's the same thing that simpson-bowles had, 40% revenue. so the only way you can reach that, incidentally, is to allow the rates to go up. just this idea of we're going to take a look at the tax code, change some credits and deductions, you can't come up with enough money. >> so any deal will have to include at least some hike in the tax rate. >> i don't think there's any other way to approach it. that's why the president has taken this position. if we're going to make sure, for example, that we spare families making $250,000 a year or less from any income tax increase, then this idea that we're going to go into the tax code and find $1.6 trillion over ten years becomes almost impossible. we need to protect those middle income families. >> you said today that congress should deal with the fiscal cliff crisis now, but tackle entitlements, the entitlement questions, later. yesterday, senator lamar alexander said the only thing the president has to do to get an agreement from republic
that's about 40% of the $4 trillion deficit goal that we have. that's the same thing that simpson-bowles had, 40% revenue. so the only way you can reach that, incidentally, is to allow the rates to go up. just this idea of we're going to take a look at the tax code, change some credits and deductions, you can't come up with enough money. >> so any deal will have to include at least some hike in the tax rate. >> i don't think there's any other way to approach it. that's why the...
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Nov 28, 2012
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but we heard no mention of congress dealing with our soaring debtor deficit spending, or where spending cuts of any type might come or how we are going to address the larger issue: we all know that tax hikes on the rich ain't going to get it down. progressive groups reportedly held a private meeting with senior obama administration white house officials. according to the "washington post" the groups were told not to worry about any entitlement reforms or big budget cuts. the so-called safety net programs according to them are not going to be touched and the progressive groups walked away feeling very happy. the report say the white house feels it does not need to compromise, period and is willing to let the big tax hike happen on everybody. the big tax hike is what everybody will face not just the rich or the middle class. they think they'll be in a better position to negotiate with the g.o.p. after that happens. chris stirewalt joins me, host of power play on foxnews.com. >> i was a little frightened, i thought something i, really bad was happening instead of the standard badness. megy
but we heard no mention of congress dealing with our soaring debtor deficit spending, or where spending cuts of any type might come or how we are going to address the larger issue: we all know that tax hikes on the rich ain't going to get it down. progressive groups reportedly held a private meeting with senior obama administration white house officials. according to the "washington post" the groups were told not to worry about any entitlement reforms or big budget cuts. the so-called...
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Nov 28, 2012
11/12
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social security has not added one penny to the deficit. for those who say there is good reason to push it off the table and wait, i would add a note of caution. small changes made today in social security will play out over the long run to buy us solvency for a long time. we should take perhaps all the security off the table but be very honest but we will achieve in the near term. i think we should create the equivalent of eight simpson- bowles region of a simpson- bowles, and come up with a plan to buy 75 years of salt with the rigid of solvency. -- of solvency foug. i might add a wrinkle here. years, a similar commission ought to be creat ed. not get into this mess where we have six months to go with social security. you know how important it is for people. people are devastated by the recession and their pension plans lost. it is important to us, our kids come and grandchildren. i think we should create a commission that will report back to congress before a vote by the end of the next calendar year. i want to talk about the two toughes
social security has not added one penny to the deficit. for those who say there is good reason to push it off the table and wait, i would add a note of caution. small changes made today in social security will play out over the long run to buy us solvency for a long time. we should take perhaps all the security off the table but be very honest but we will achieve in the near term. i think we should create the equivalent of eight simpson- bowles region of a simpson- bowles, and come up with a...
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course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loath to accept a situation where they couldn't get any more money i guess look at as one of the sentiments of the last few days how does the lack of agreement affect the likelihood now do you think maybe of a complete exit of britain from the e.u. knowing that the anti bloc sentiment maybe is gaining strength across the country that is becoming a creasing increasingly likely there was a recent opinion poll which showed that fifty six percent of those polled wanted to leave the european union many people in this country are very unhappy with the terms of membership and this just goes to show the fact that. agreement couldn't be reached in brussels at this meeting of the european council shows that really britain doesn't fit into these projects of having greater centralization is not something that many politicians let alone the british public in the
course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loath to accept a situation where they couldn't get any more money i guess look at as one of the sentiments of the last few days how does the lack of agreement affect the likelihood now do you think maybe of a complete exit of britain from the e.u. knowing that the anti bloc sentiment...
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i think the atmosphere in europe would be a lot better what of course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loathe to accept a situation where they're going to get any more money. why are you here a struggle to find a common way forward so regions are looking for ways to go it alone in spanish catalonia people are set to go to the polls to elect a regional government which could see a referendum on its independence on skis and your father has said he tells. there's a wind of separatism blowing through europe at the moment and it's reached the north eastern shores of spain catalonia is the latest region to officially our spare independence is something people here have long felt in their hearts but now they're feeling it in their pockets. i think it's a good idea to be in the band them for our. country. which is. really really bad situation it's a bargain for. the border for the cultural problem caterham flags can be seen hanging
i think the atmosphere in europe would be a lot better what of course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loathe to accept a situation where they're going to get any more money. why are you here a struggle to find a common way forward so regions are looking for ways to go it alone in spanish catalonia people are set to go to the...
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Nov 28, 2012
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running deficits close to 4% to 5% over the next decade and that's cbo forecasts. if that occurs, you're talk about the debt getting more and more out of control. because the u.s. is the global reserve council, it's reliant on global reserve investment. >> just want to make sure that people have enough treasuries to trade. that's all it's about, charles. isn't that very generous? >> it is very generous. but left unaddressed, the fiscal problem is beginning to be a problem. but equally they don't want the full hit at this stage. so it is a matter of coming to some compromise, so you are going to have to see some kind of adjustment on the taxation side. that is what everyone is hopeful for. but it's still a political game. >> and we've been burned before. let's recap in the meantime a couple of developments in europe overnight. the european commission is expected to approve the restructuring plans of spags's na -- spain's national lenders today. a token price of -- yes -- one euro. the valencia-based lank was one of four to be nationalized in the past 12 months. and
running deficits close to 4% to 5% over the next decade and that's cbo forecasts. if that occurs, you're talk about the debt getting more and more out of control. because the u.s. is the global reserve council, it's reliant on global reserve investment. >> just want to make sure that people have enough treasuries to trade. that's all it's about, charles. isn't that very generous? >> it is very generous. but left unaddressed, the fiscal problem is beginning to be a problem. but...
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Nov 28, 2012
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raging deficits, not enough revenues and we needed to cut some spending, too. we needed to make sure that people got their unemployment benefits. tip o'neill realized that he was speaker of the house. not speaker of the democrats. and he had that magic. the magic to him was 218 votes. and that's what i wish john boehner would do. because if he took a page out of tip o'neill's book, we'll be off this fiscal cliff and i compliment congressman cole for his courage in saying, you know, the president's given us 98%, essentially, of what we want. let's take it and we'll argue over the millionaires and the billionaires later. >> you know, you're probably one of the really key leading progressives in the united states senate. i've watched your heroic campaigns every six years. i'm always in wander of your ability to stick to principles and win big in the biggest state. how is this going over, the view you're taking now, which we're all in this together to some extent? it has to be a 60/40, something like that, deal. how is that going over with your colleagues in the se
raging deficits, not enough revenues and we needed to cut some spending, too. we needed to make sure that people got their unemployment benefits. tip o'neill realized that he was speaker of the house. not speaker of the democrats. and he had that magic. the magic to him was 218 votes. and that's what i wish john boehner would do. because if he took a page out of tip o'neill's book, we'll be off this fiscal cliff and i compliment congressman cole for his courage in saying, you know, the...
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Nov 29, 2012
11/12
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if you want a balanced approach to reducing the deficit, let your member of congress know. if you believe we can solve this problem through compromise, send that message. >> let your member of congress know. send that message said the president. the american people did. so many american people did that congressional websites and phone lines crashed after the president's speech. house phone circuits were so overwhelmed that an alert went out to members of congress that if they were expecting any really important phone calls therks shou they should try using a different phone. if you tried to visit the websites for john boehner or michele bachmann after the president's call to action, you just got a server to busy message. >>> last year, in the fall, the president went and did it again. the president went on a multi-state barn storming campaign style tour to push for the passage of his jobs bill. again, he asked the american people to get involved in that fight directly. he asked the american people to talk to congress. >>> i want you to call. i want you to e-mail. i want you
if you want a balanced approach to reducing the deficit, let your member of congress know. if you believe we can solve this problem through compromise, send that message. >> let your member of congress know. send that message said the president. the american people did. so many american people did that congressional websites and phone lines crashed after the president's speech. house phone circuits were so overwhelmed that an alert went out to members of congress that if they were...
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Nov 27, 2012
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social security didn't cause the deficit. we don't need to cut social security to solve the problem. >> congressman defazio and a few others say let's go over the cliff if it means touching social security. what do you say? >> we should avoid going over the cliff, and the keys to the car are in the republicans' hands with respect to this tax issue. with respect to social security, i agree with what the president has said and what peter defazio said. social security is not part of the deficit and debt problem. we're not going to raid social security in order to balance other parts of the budget. as the president has said, you can deal with social security and try to strengthien it on yor own terms. with respect to health care, what we've said is we opposed the republican approach, which is simply to transfer rising health care costs onto the backs of seniors. what we should do and can do is build on the affordable care act where we found savings within the health care system by changes the incentive structures, by modernizing
social security didn't cause the deficit. we don't need to cut social security to solve the problem. >> congressman defazio and a few others say let's go over the cliff if it means touching social security. what do you say? >> we should avoid going over the cliff, and the keys to the car are in the republicans' hands with respect to this tax issue. with respect to social security, i agree with what the president has said and what peter defazio said. social security is not part of...
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Nov 28, 2012
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a lot of the other issues surrounding deficit deduction are going to be a whole lot easier. and if we get this wrong, the economy is going to go south. it's going to be much more difficult for us to balance our budgets and deal with our deficits because if the economy's not strong, that means more money's going out and things like unemployment insurance and less money is coming in in terms of tax receipts and it just actually makes our deficit worse. so we really need to get this right. i can only do it with the help of the american people. so tweet -- what was that again? my2k or e-mail, post it on a member of congress' facebook wall. do what it takes to communicate a sense of urgency. we don't have a lot of time. we have a few weeks to get this done. we could get it done tomorrow. now, optimistically i don't think we're going to get it done tomorrow. but i tell you, if everybody here goes out of their way to make their voices heard and spread the word to your friends and family and co-workers and neighbs, i am confident that we will get it done and we will put america on t
a lot of the other issues surrounding deficit deduction are going to be a whole lot easier. and if we get this wrong, the economy is going to go south. it's going to be much more difficult for us to balance our budgets and deal with our deficits because if the economy's not strong, that means more money's going out and things like unemployment insurance and less money is coming in in terms of tax receipts and it just actually makes our deficit worse. so we really need to get this right. i can...
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Nov 28, 2012
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they don't believe that social security is a driver of the deficit. on the other hand, you ended up seeing where -- how do you end up tweaking medicare? do you raise the eligibility age? new poll by "the washington post"/abc showed that two thirds of americans oppose raising the eligibility age for medicare and that could be something that could be discussed as would be, you know, maybe means testing and other things and again we don't know the details but what the white house is wanting to say, look, we're open to some adjustments on entitlements where republicans want to hear what are the details? >> that's interesting, the new poll you brought up. most of the people in that poll not wanting to see the eligibility age change and in the same poll the majority wanted to see taxes increase for people who make over $250,000. a lot of times we saw the lawmakers use polls to their benefit and this is an interesting storyline from those, too. >> politically, right now, when you look broadly, measuring the public, it does seem to be easier to raise taxes on
they don't believe that social security is a driver of the deficit. on the other hand, you ended up seeing where -- how do you end up tweaking medicare? do you raise the eligibility age? new poll by "the washington post"/abc showed that two thirds of americans oppose raising the eligibility age for medicare and that could be something that could be discussed as would be, you know, maybe means testing and other things and again we don't know the details but what the white house is...
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it's exactly what happened during the clinton administration group old spending and quadrupled the deficit then in this forward you're going to get all your god has influence or an article written in one thousand nine hundred six that sort of led to believe it that became like the foundation trilogy every really really has for thirty two years this is been this is been the republican party tonight and your eyes are going out to remember the the clinton administration yes first week that bill clinton right after the election the first week after the election when the republicans were screaming about what the national debt there had been no discussion about it at all for twelve years before. or that they were in the wreck during the time the regular radio who knew of her own primary had one hundred ten last pro is not talking about the ready to be much of the jazz radio well yeah george w. bush tries talking about but he was talking about the trade with george not the not the no using sort of the federal budget and george h.w. bush actually wanted to assert the line item veto you know that y
it's exactly what happened during the clinton administration group old spending and quadrupled the deficit then in this forward you're going to get all your god has influence or an article written in one thousand nine hundred six that sort of led to believe it that became like the foundation trilogy every really really has for thirty two years this is been this is been the republican party tonight and your eyes are going out to remember the the clinton administration yes first week that bill...
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Nov 28, 2012
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we want deficit reduction that is big, bold, but balanced. as long as more republicans can agree with us on that we're willing to compromise with them and meet them halfway. >> sir, real quickly while i have you, it was announced in the last hour that the president is going to be hosting mitt romney for a private luncheon at the white house tomorrow. your reaction to that in light of that campaign finance call to supporters of mitt romney where he disbasically doubled down on the 47% remark? >> i think it's important for the president to reach out to as many people as possible. i didn't agree with mitt romney on much but some ideas he had were intriguing. i'm glad the president is reaching out to him and unifying america. we all need to stand behind the middle class and see where we can agree and act on that agreement. >> steve israel, great to have you on with us this morning. >> thanks. >> we have more heavy hitters coming up on the fiscal cliff on msnbc throughout the next day. next hour on "now" with alex wagner, she'll speak with senator
we want deficit reduction that is big, bold, but balanced. as long as more republicans can agree with us on that we're willing to compromise with them and meet them halfway. >> sir, real quickly while i have you, it was announced in the last hour that the president is going to be hosting mitt romney for a private luncheon at the white house tomorrow. your reaction to that in light of that campaign finance call to supporters of mitt romney where he disbasically doubled down on the 47%...
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to reduce the deficit. but it also includes spending cuts. so, we did a trillion dollars in spending cuts as part of the budget control act over the next ten years and we're going to have to continue to implement that. so that's part of the plan. secondly the president's budget actually contains more health care savings than the bipartisan simpson-bowles commission does. he does it in a number of ways. for example he asked pharmaceutical companies to pay higher rebates to drugs for people who are on medicare and medicaid. he reforms the medicap wraparound insurance plan. right now medicare is essentially indirectly subsidizing those plans. so the president actually has substantial savings, not only in health care, but in many other areas. for example he eliminates a lot of the excessive agriculture subsidies. so the president's plan does have that balance of cuts, and revenue. >> interesting that you bring up health care because eric cantor, something we heard from speaker boehner, he would like obama care to be back on the table. i mean, dem
to reduce the deficit. but it also includes spending cuts. so, we did a trillion dollars in spending cuts as part of the budget control act over the next ten years and we're going to have to continue to implement that. so that's part of the plan. secondly the president's budget actually contains more health care savings than the bipartisan simpson-bowles commission does. he does it in a number of ways. for example he asked pharmaceutical companies to pay higher rebates to drugs for people who...
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in 2010 the state budget deficit was more than 40% of its general fund. 40 percent. the second highest of any state. s&p and moody's both give illinois the second worst credit rating in all of the 50 states. illinois is funded 45% of pension liability, the lowest percentage of any state. unemployment in illinois, very impressive as well. just under 10%. they had things well in hand in illinois. is it mentioned that is a haunted the president obama? anyway, the tenth highest unemployment rate in the country. for stub's illinois a death spiral state because for every hundred private-sector workers in illinois there are 103 depending upon those private-sector workers. new york, aiming at the sixth worst death spiral state because for every 100 private-sector jobs in new york there are 107 who depend on the private sector for their -- well, their sustenance. a per capita debt of nearly $6,700. $6,700 just for the state of new york. the six highest in the country. we have people worrying about the fiscal cliff which is worth worrying about. some of these states have gotte
in 2010 the state budget deficit was more than 40% of its general fund. 40 percent. the second highest of any state. s&p and moody's both give illinois the second worst credit rating in all of the 50 states. illinois is funded 45% of pension liability, the lowest percentage of any state. unemployment in illinois, very impressive as well. just under 10%. they had things well in hand in illinois. is it mentioned that is a haunted the president obama? anyway, the tenth highest unemployment...
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Nov 28, 2012
11/12
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we can't afford to run 1.2 to $1.5 trillion deficits every year. and we can't afford to bring obama care on to the books, because we know it has already doubled in its predicted cost. it was -- >> congresswoman, forgive me for cutting you off. but final question, yes or no, you think you'll be on the hill come christmas talking about this? >> oh, no, no. i think what you're going to do is see us find a way to move the bulk of this, to get past the fiscal cliff to address that, and then to have a good discussion. i'm pleased to welcome the president, the democrats to the discussion. this is something some of us have been trying to get done for many years. and i'm delighted to see that they're finally putting their attention on it. we have to get the fiscal house in order. >> thank you so much. live for me on the hill today, appreciate it. >>> today, business titans. tomorrow, the business guy trying to take his job. that's right, president obama and mitt romney will be meeting at the white house for lunch in the private dining room, no, no. no camer
we can't afford to run 1.2 to $1.5 trillion deficits every year. and we can't afford to bring obama care on to the books, because we know it has already doubled in its predicted cost. it was -- >> congresswoman, forgive me for cutting you off. but final question, yes or no, you think you'll be on the hill come christmas talking about this? >> oh, no, no. i think what you're going to do is see us find a way to move the bulk of this, to get past the fiscal cliff to address that, and...
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Nov 26, 2012
11/12
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. >> let's make sure that revenue is an integral part of deficit reduction. yes, from my side of the table bring entitlement reform into the conversation. social security, set aside. doesn't add to the deficit but when it comes to medicare and medicaid, protect the integrity of the program but give it solvency for more and more years. martha: alabama republican jeff sessions is the ranking member on the senate budget committee. senator sessions good morning. good to have you here today. >> martha, thank you. martha: a lot of talk this morning after these sunday shows and watching both sides talk about this fiscal cliff about who seems to be moving and in what direction. what are you hearing, what are you hearing from lindsey graham who says, quote he is willing to break that pledge on taxes under certain circumstances? what are they really saying? >> i'm not sure what they're saying. there's a lot of this talk going on. i don't know who is speaking for the republican party. the house of representatives where you have a substantial republican majority but the
. >> let's make sure that revenue is an integral part of deficit reduction. yes, from my side of the table bring entitlement reform into the conversation. social security, set aside. doesn't add to the deficit but when it comes to medicare and medicaid, protect the integrity of the program but give it solvency for more and more years. martha: alabama republican jeff sessions is the ranking member on the senate budget committee. senator sessions good morning. good to have you here today....
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Nov 29, 2012
11/12
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we want to raise -- deficit. we want to raise taxes, cut defense -- we're willing to do all four of those things. megyn: marc, how does taking money out of medicare and giving it to obamacare cut spending? [laughter] >> it doesn't. >> that's not what i said, megyn. that's not what i said. >> it doesn't cut spending. they cut money out of medicare and put it to fund obamacare, but president obama has not put forward a plan to deal with the entitlement crisis. he put forward no plan on social security, medicare or medicaid, which he himself admits is what is driving the debt and driving the real fiscal crisis. so they have put forward no plans whatsoever, and when paul ryan and others have put forward our plans, they've pilied them for it. i'm glad president obama's meeting with simon. i'd love for him to meet with john john boehner. [laughter] megyn: simon's got a lot of good ideas. were you in that meeting with the unions and the progressive groups that the president had -- >> no. i was in a different meeting. th
we want to raise -- deficit. we want to raise taxes, cut defense -- we're willing to do all four of those things. megyn: marc, how does taking money out of medicare and giving it to obamacare cut spending? [laughter] >> it doesn't. >> that's not what i said, megyn. that's not what i said. >> it doesn't cut spending. they cut money out of medicare and put it to fund obamacare, but president obama has not put forward a plan to deal with the entitlement crisis. he put forward no...
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Nov 27, 2012
11/12
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that's exactly what deficit reduction is. we're paying a little bit while we're healthy to protect against the likelihood, the small or great likelihood, we might have a debt crisis later. but my feeling is that now, that the economy is weak, growing at 1.8% for the last 24 months, we're not creating that many jobs, unemployment is still around 8%, the economy is still wheezing faintly. and when you're wheezing faintly, you need the strong medicine that high deficits offer. >> there's a lot of talk of the fear of the u.s. falling into the same hardships as europe. specifically greece. i want to play what senator lindsey graham had said about this. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece. >> okay. here's what you said in your article. deficit reduction takes economic activity out of the economy. if you want to see what austerity does to a weak private sector, just look at europe. which policies do you think would turn us into europe? how would that happ
that's exactly what deficit reduction is. we're paying a little bit while we're healthy to protect against the likelihood, the small or great likelihood, we might have a debt crisis later. but my feeling is that now, that the economy is weak, growing at 1.8% for the last 24 months, we're not creating that many jobs, unemployment is still around 8%, the economy is still wheezing faintly. and when you're wheezing faintly, you need the strong medicine that high deficits offer. >> there's a...
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Nov 28, 2012
11/12
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entrenched interests behind the spending that's killing a lot of states, is hurting our own federal deficit. so i think scott walker is someone who can say, look, i've done this, it was not easy, and i succeeded. as far as democrats are concerned, it's really a far less wide-open race, i think, than with republicans, simply because you have this hillary clinton decision out there, whether she does or doesn't. if she doesn't, i think you might have some democrats saying, you know, we won with the senator the last timing, but that's really, really unusual. governors are good. and martin o'malley of maryland, brian schweitzer of montana are two possibilities. >> greta: i think governor o'malley, a big choice, obviously someone people have their eyes on, but also cory booker, a mayor on the democratic side from newark, new jersey. we'll see a lot of corey booker. on the republican side, a woman, governor, suzanna martinez from the state of new mexico. i think she's someone to keep our eye on, because i think her speech at the republican national convention was one that wowed somebody. >> open r
entrenched interests behind the spending that's killing a lot of states, is hurting our own federal deficit. so i think scott walker is someone who can say, look, i've done this, it was not easy, and i succeeded. as far as democrats are concerned, it's really a far less wide-open race, i think, than with republicans, simply because you have this hillary clinton decision out there, whether she does or doesn't. if she doesn't, i think you might have some democrats saying, you know, we won with...
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Nov 28, 2012
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we've got a real debt and deficit problem. we need to be serious about it, while we protect the middle class. i'm hopeful we can find some combination of an increase in rates for the wealthy, some limitation on deductions for the wealthy and some kind of means testing for medicare that would -- you know, we don't need to be buying donald trump's prescription drugs, chris. we can do this -- >> for a number of reasons. >> for a number of reasons, although he may need the drugs we don't need to be buying them. we need to also look at spending cuts across the board. maybe not as -- with a 2x4 like sequestration but we need to look at spending cuts. all those things need to be on the table and we need to quit trying to play politics with this and get it done. >> let me ask you a question on the social front. john mccain the other day, and i think i read him clearly on one of the sunday shows with chris wallace, he said basically -- read him this way, abortion rights shouldn't be a partisan issue. do you think that's an issue that s
we've got a real debt and deficit problem. we need to be serious about it, while we protect the middle class. i'm hopeful we can find some combination of an increase in rates for the wealthy, some limitation on deductions for the wealthy and some kind of means testing for medicare that would -- you know, we don't need to be buying donald trump's prescription drugs, chris. we can do this -- >> for a number of reasons. >> for a number of reasons, although he may need the drugs we...
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Nov 29, 2012
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rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. >> the president has put forward in september of 2011 with his proposal to the so-called super committee and his budget of february of 2011 very specific spending cuts, including savings from health care entitlement programs. >> so one of the issues is, when you talk specifics and they become part of the public conversation, it's very easy for those things to get derailed in the time available where all the sides sort of clamber and attack some of the specifics. both parties have an interest in keeping some of this close to the vest. what we're hearing from senate democrats today is they believe that the election suggests that the public really wants those higher rates for the higher earners in terms of taxes. senator reid and other democrats don't want to talk about specific cuts or entitlement reforms publicly. everyone saying they don't want to negotiate from the podium. but everyone is aware it's the end of november. there isn't a lot of time left. and how quickly and how peacefu
rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. >> the president has put forward in september of 2011 with his proposal to the so-called super committee and his budget of february of 2011 very specific spending cuts, including savings from health care entitlement programs. >> so one of the issues is, when you talk specifics and they become part of the public conversation, it's very easy for those things to get derailed in...
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Nov 24, 2012
11/12
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that's why we've had trillions and trillions in trade deficits with china. the managers of american's trade policy with china in the last two decades, democrats and republicans, i think are guilty of real political malpractice on a colossal scale. >> what is the chinese view point of what they are doing vis-a-vis north korea? >> you know on almost any problem the chinese memory goes back longer than our memory. because of the great war many of the invasions of china have come by bypassing the great wall along the yellow and north korea, and also, the japanese attempt to conquer asia started in korea. china, korea, is an extremely sensitive point. what i think the chinese would like best as an outcome would be a nonnuclear peaceful north korea. they would not want a unified korea, because they would think that a high-tech korea at the yellow river with modern weapons, would resurrect historical threats in their mind many also korean war has the image, has symbolic significant this sense it was, they took on the united states when they were very weak and came
that's why we've had trillions and trillions in trade deficits with china. the managers of american's trade policy with china in the last two decades, democrats and republicans, i think are guilty of real political malpractice on a colossal scale. >> what is the chinese view point of what they are doing vis-a-vis north korea? >> you know on almost any problem the chinese memory goes back longer than our memory. because of the great war many of the invasions of china have come by...
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Nov 29, 2012
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>> we had 18 debt an deficit commissions since ronald reagan became president in 1981. in more than half of those, medicaid, medicare an social security were supposed to be part of fixing the debt and deficit, it never happened. if they kick the can down the road again without fixing entitlements in the process, entitlements still won't get fixed. >> we asked you to comment on the news and then sometimes you make news. the news about you, it says you are considering running in a primary to challenge saxby chambliss. are you any closer to a season? tell me what you're thinking and who is encouraging you to do that. >> well, you know, i said all along, no i'm not going to do this. i've been dismissive. in the past couple days, a number more prominent names have been calling and saying shy do it. i feel i owe them more consideration. i'm not closer to thinking i will do it, but i'm thinking about it more. my wife is adamant if i do it, i will be buried in the backyard before i announce. i think saxby chambliss, it's time for him to be primaried. >> your wife will bury you
>> we had 18 debt an deficit commissions since ronald reagan became president in 1981. in more than half of those, medicaid, medicare an social security were supposed to be part of fixing the debt and deficit, it never happened. if they kick the can down the road again without fixing entitlements in the process, entitlements still won't get fixed. >> we asked you to comment on the news and then sometimes you make news. the news about you, it says you are considering running in a...
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Nov 21, 2012
11/12
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. >> how do we move our country forward and reduce the deficit? by creating jobs and growing our economy. not by cutting programs that families rely on most. we need senators udall to continue to stand up for us. >> jennifer: do you think that democrats are going to feel as pressured by the unions as republicans feel pressured by grover norquist? >> organized labor is the best organized, most effective strongest arm on the left in this country. they are a great ally for the democratic party and so, of course the democrats will feel pressure from labor. they are also going to feel pressure from -- >> jennifer: are they going to compromise? >> we'll find out. the democrats aren't one party in lock step. have conservative democrats liberal democrats. so the unions can't force every democrat to do something. and there's pressure also from the middle. you said pressure from the right. pressure from the left. but there's pressure from the middle. a democratic interest group that has some swaining called third way released polling that said hey, look, th
. >> how do we move our country forward and reduce the deficit? by creating jobs and growing our economy. not by cutting programs that families rely on most. we need senators udall to continue to stand up for us. >> jennifer: do you think that democrats are going to feel as pressured by the unions as republicans feel pressured by grover norquist? >> organized labor is the best organized, most effective strongest arm on the left in this country. they are a great ally for the...
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Nov 21, 2012
11/12
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worse, there will be about 3,000 people that will have paralysis or significant permanent neurological deficits. it is a real problem. it is a real problem particularly in texas. >>trace: we look to the pictures of mosquitoes which we associate with the west nile and we associate mosquitoes with summer, are we off the hook or is this year round? >>guest: well, it depends where you are. there is a tendency to thing you are off the hook because the previous years is the warm weather because the warmer the weather the more the virus reproduces in the mosquito so it reproduces and you are bitten you will get the virus but because it is a disease of cycles we are not off the hook. >>trace: you talk about a cycle of the disease what do we know about future epidemics? >>guest: there will be future epidemics. in north dakota, for instance, which is the state that has the most cases of west nile virus reported per capita only 15 percent of the population has become infected so there is a long way to go. while you can get the virus and become infected and become immune if you have not been subjected to t
worse, there will be about 3,000 people that will have paralysis or significant permanent neurological deficits. it is a real problem. it is a real problem particularly in texas. >>trace: we look to the pictures of mosquitoes which we associate with the west nile and we associate mosquitoes with summer, are we off the hook or is this year round? >>guest: well, it depends where you are. there is a tendency to thing you are off the hook because the previous years is the warm weather...
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Nov 27, 2012
11/12
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lawmakers are under pressure to strike a deficit deal, preventing the tax hikes and deep spending cuts. wall street's week got off to an uncertain start, partly over concerns that strong holiday sales won't last. the dow jones industrial average lost 42 points to close at 12,967. the nasdaq managed about a ten- point gain to close at 2976. the woman who helped steer the government's regulatory response to the 2008 financial crisis is stepping down. mary schapiro announced today she's resigning as chair of the securities and exchange commission after nearly four years. president obama has designated s.e.c. commissioner elisse walter to replace schapiro, effective december 14. in bangladesh, thousands of people protested today over a deadly fire at a factory that makes garments for american and other companies. at least 112 people died in the saturday night blaze on the outskirts of dhaka, the country's capital. today, crowds of textile workers demanded justice and improved conditions. they accused management of putting production quotas ahead of people's lives. . >> reporter: what the f
lawmakers are under pressure to strike a deficit deal, preventing the tax hikes and deep spending cuts. wall street's week got off to an uncertain start, partly over concerns that strong holiday sales won't last. the dow jones industrial average lost 42 points to close at 12,967. the nasdaq managed about a ten- point gain to close at 2976. the woman who helped steer the government's regulatory response to the 2008 financial crisis is stepping down. mary schapiro announced today she's resigning...
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Nov 29, 2012
11/12
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we have talked for a number of years now about the challenges we have in terms of the debt and deficit. but we are not talked about the investments that are needed in this country that will help make us stronger in the future. whether we're talking about education or job training or investment in our infrastructure or providing the services for our veterans when they come home or those kinds of things that we can't just continue to talk about cutting government. we have to have a country that actually is strong in the underpinnings and that is a balanced approach that i think we need to be taking. >> before we go, i swrus want to turn to one other piece of senate business, this oddity of susan rice. it's just a simple question about john mccain and lindsey graham and john mccain and lindsey graham, do you think they are crazy and you can answer yes or maybe. >> what i believe is that susan rice is an incredible person with a great deal of intelligence and integrity and n ought to be taken r for her word. i think it's really unfortunate for her. >> i don't think senators are crazy in my
we have talked for a number of years now about the challenges we have in terms of the debt and deficit. but we are not talked about the investments that are needed in this country that will help make us stronger in the future. whether we're talking about education or job training or investment in our infrastructure or providing the services for our veterans when they come home or those kinds of things that we can't just continue to talk about cutting government. we have to have a country that...
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Nov 27, 2012
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that is not the federal budget deficit you're looking at. the powerball jackpot reaches $425 million. the latest on the big drawing just ahead. jenna: now we turn to the latest on the new health care law. the supreme court ordering the fourth circuit court of appeals to take a second look at liberty university's challenge of the health care law. the christian school believes americans should not be required to purchase health insurance and employers should not be forced to provide it if there are religious objections to certain provisions like birth control that are part of the health care they're providing. the move could open the door for president obama's health care law to be backed before the supreme court late next year. david rifkin is a constitutional law attorney and former white house counsel under presidents reagan and george h.w. bush. nice to have you with us today. >> good to be with you. jenna: how strong is liberty's case here? >> well, first of all it is entirely appropriate and expected the case would go forward give the fa
that is not the federal budget deficit you're looking at. the powerball jackpot reaches $425 million. the latest on the big drawing just ahead. jenna: now we turn to the latest on the new health care law. the supreme court ordering the fourth circuit court of appeals to take a second look at liberty university's challenge of the health care law. the christian school believes americans should not be required to purchase health insurance and employers should not be forced to provide it if there...
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Nov 26, 2012
11/12
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does it all go to the deficit, or to the debt? >> no. megyn: because we, a lot of americans think, all right, i want to help my fellow citizens and i don't like this national debt but you know who i don't want to help? i don't want to have jeff neely to have another trip to the hot tub and drink his red wine. >> forgotten about him. megyn: the feds shown propensity for misspending the people's money. >> well, think about this. we're talking about, we have a government that runs a trillion dollar deficit every year. that borrows more than three cents of every dollar it spends. here we're talking about a deal that would be 1.6 trillion over 10 years. talking about $160 billion a year. it is just, just littlest scratch in the surface when you talk about long-term debt and different sits. this is being made out to be a big deal but this money will get you can ised pretty fast. megyn: look at the fight we have over just that. can you imagine the fight we would have if we really tried to tackle the $16 trillion debt? chris, great to see you. >
does it all go to the deficit, or to the debt? >> no. megyn: because we, a lot of americans think, all right, i want to help my fellow citizens and i don't like this national debt but you know who i don't want to help? i don't want to have jeff neely to have another trip to the hot tub and drink his red wine. >> forgotten about him. megyn: the feds shown propensity for misspending the people's money. >> well, think about this. we're talking about, we have a government that...
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Nov 21, 2012
11/12
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also, japan's trade deficit has widened, exacerbated by territorial tensions. now we have the details from tokyo. >> reporter: hi, ross. japan's finance ministry reported a bigger than expected trade deficit of $6.7 billion for october. that's a record for the month and marked the fourth straight month of red ink in japan's trade account. exports fell 6.5% on the year to $62.8 billion for the fifth month in a row. car exports fell 12% with shipments to china and europe down sharply. auto exports to china fell 82% due to a widespread boycott of japanese products in china as a territorial role continues. the big drop marks the steepest decline in car exports to china since 2001. that's when exports fell 88% following the prime minister's controversial visit to the shrine. back to you, ross. >> investors appear to give the singapore firm the benefit of the doubt today. the firm recovered after failing to back its allegations against the singapore trader. the research firm published a letter, scant on detail but criticizing for its huge debt pile. it also said the
also, japan's trade deficit has widened, exacerbated by territorial tensions. now we have the details from tokyo. >> reporter: hi, ross. japan's finance ministry reported a bigger than expected trade deficit of $6.7 billion for october. that's a record for the month and marked the fourth straight month of red ink in japan's trade account. exports fell 6.5% on the year to $62.8 billion for the fifth month in a row. car exports fell 12% with shipments to china and europe down sharply. auto...
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Nov 26, 2012
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getting hillary clinton, the secretary of state, to get up there and by this time we have attention deficit disorder so i am worried this will fade away like other important issues that end up on the hills supposedly, under investigation. >>neil: but there are a number of folks who think if the administration were to push miss rice forward for secretary of state, it would be inviting acrimony but it would come at an enormous cost. do you grow? >>guest: i do, but what we are seeing is a weird school yard battle. the fact that senators john mccain and graham confronted the president and the president came out and publicly defended we ambassador rice, now you are getting in this weird shoving match where, perhaps, the president feels, as a matter of pride, he will put her forward. she is very smart person, very experienced individual, and the misstep on benghazi, on going out on the public and the sunday morning talk shows five days after the fact and claiming she narrative of the video and the spontaneous protests, she relied purely on the intelligence talking points defies belief so that par
getting hillary clinton, the secretary of state, to get up there and by this time we have attention deficit disorder so i am worried this will fade away like other important issues that end up on the hills supposedly, under investigation. >>neil: but there are a number of folks who think if the administration were to push miss rice forward for secretary of state, it would be inviting acrimony but it would come at an enormous cost. do you grow? >>guest: i do, but what we are seeing...
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Nov 29, 2012
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it's not responsible for the deficit and debts. neither is social security. you're right, medicare and social security have long-term fiscal challenges. they need to be dealt with. i don't agree with connect connecting those to the deficit and debt program not created by those programs. >> i want to switch gears. as a senior member of the house intelligence committee i want to talk about benghazi. let me quote. part of what you said, there should be a laser-like focus on going after those responsible. but in the blur of partisan wrangling over talking points we seem to have lost sight of the vital objective. some on capitol hill and elsewhere seem determined to go after another bright diplomat ambassador susan rice. i want to talk about finding those responsible. the fbi seasonisn't saying much. from what i know we have heard zero about arrests. what can you tell us about these perpetrators? >> well, i can tell you that we still have a lot of work to do. the intelligence community is pursuing all of the leads. there is nothing that i want more. this is true i
it's not responsible for the deficit and debts. neither is social security. you're right, medicare and social security have long-term fiscal challenges. they need to be dealt with. i don't agree with connect connecting those to the deficit and debt program not created by those programs. >> i want to switch gears. as a senior member of the house intelligence committee i want to talk about benghazi. let me quote. part of what you said, there should be a laser-like focus on going after those...
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Nov 29, 2012
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rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. and mr. bowles himself said there is no serious discussion of spending cuts so far. and unless there is, there is a real danger of going off the fiscal cliff. listen, going off the fiscal cliff will hurt our economy and will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes. to replace the sequester, and pave way for -- pave the way for tax reform and entitlement reform. and we're the only ones with a balanced plan to protect the economy, protect american jobs, and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reforms, it's going to be impossible to address our country's debt crisis. and get our economy going again and to create jobs. so right now, all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. it's time for the president, congressional democrats, to tell the american people what spending cuts they're really willing to m
rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. and mr. bowles himself said there is no serious discussion of spending cuts so far. and unless there is, there is a real danger of going off the fiscal cliff. listen, going off the fiscal cliff will hurt our economy and will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes. to replace the sequester, and pave way...
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rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. and mr. bowles himself said there has been no serious discussion of spending cuts so far. and unless there is, there is a real danger of going off the fiscal cliff. going off the fiscal cliff will hurt our economy, it will cost american jobs. republicans have taken action to overt the fiscal cliff by passing legislation to stop all the tax hikes. to replace the sequester. and pave way for -- pave the way for tax reform and entitlement reform. and we're the only ones with a balanced plan to protect the economy, protect american jobs and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reform, it will be impossible to address the debt crisis and get our economy going again and create jobs. so right now all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. time for the president, congressional democrats to tell the american people what spending cuts they're really willing to make. with that i'll take a few
rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. and mr. bowles himself said there has been no serious discussion of spending cuts so far. and unless there is, there is a real danger of going off the fiscal cliff. going off the fiscal cliff will hurt our economy, it will cost american jobs. republicans have taken action to overt the fiscal cliff by passing legislation to stop all the tax hikes. to replace the sequester. and pave way...